Evercore ISI Issues Positive Forecast for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its target price raised by Evercore ISI from $73.00 to $76.00 in a research report released on Monday, Marketbeat.com reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on SLG. Wells Fargo & Company decreased their price target on shares of SL Green Realty from $69.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. Scotiabank upgraded shares of SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 price target for the company in a report on Friday, July 25th. Citigroup upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $70.00 in a report on Friday. Truist Financial upped their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a report on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SL Green Realty in a report on Friday, May 23rd. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.79.

SL Green Realty Trading Down 1.0%

Shares of NYSE:SLG opened at $64.99 on Monday. The stock has a market capitalization of $4.63 billion, a PE ratio of -120.35 and a beta of 1.74. SL Green Realty has a 1 year low of $45.15 and a 1 year high of $82.81. The firm has a fifty day moving average price of $58.47 and a 200 day moving average price of $57.98. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The company had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $171.24 million. During the same period in the prior year, the company earned $2.05 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Analysts expect that SL Green Realty will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently declared a aug 25 dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a dividend yield of 543.0%. SL Green Realty’s dividend payout ratio (DPR) is currently -572.22%.

Insider Buying and Selling at SL Green Realty

In related news, Director Carol N. Brown sold 937 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total value of $59,115.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.04% of the stock is currently owned by corporate insiders.

Institutional Trading of SL Green Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Place Financial Advisors LLC increased its holdings in shares of SL Green Realty by 149.6% in the first quarter. Summit Place Financial Advisors LLC now owns 17,845 shares of the real estate investment trust’s stock valued at $1,030,000 after purchasing an additional 10,695 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of SL Green Realty by 6.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust’s stock valued at $389,000 after purchasing an additional 384 shares in the last quarter. KBC Group NV increased its holdings in shares of SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock valued at $193,000 after purchasing an additional 577 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in SL Green Realty by 156.1% during the 1st quarter. Wolverine Asset Management LLC now owns 12,716 shares of the real estate investment trust’s stock worth $734,000 after acquiring an additional 7,750 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of SL Green Realty by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 348,870 shares of the real estate investment trust’s stock valued at $20,130,000 after acquiring an additional 6,112 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Company Profile

3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.